Tenn. Code § 47-8-104

Current through Acts 2023-2024, ch. 1069
Section 47-8-104 - Acquisition of security or financial asset or interest therein
(a) A person acquires a security or an interest therein, under this chapter, if:
(1) the person is a purchaser to whom a security is delivered pursuant to § 47-8-301; or
(2) the person acquires a security entitlement to the security pursuant to § 47-8-501.
(b) A person acquires a financial asset, other than a security, or an interest therein, under this chapter, if the person acquires a security entitlement to the financial asset.
(c) A person who acquires a security entitlement to a security or other financial asset has the rights specified in part 5, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in § 47-8-503.
(d) Unless the context shows that a different meaning is intended, a person who is required by other law, regulation, rule, or agreement to transfer, deliver, present, surrender, exchange, or otherwise put in the possession of another person a security or financial asset satisfies that requirement by causing the other person to acquire an interest in the security or financial asset pursuant to subsection (a) or (b).

T.C.A. § 47-8-104

Acts 1997, ch. 79, § 1.